The Payment Source Blog

As Covid-19 continues to shape our behaviours, Canadians have embraced e-commerce. Government measures were put in place with many businesses reducing hours, and nonessential businesses being forced to close (see source), causing Canadians to move to e-commerce which greatly tipped the scales in favour of online versus traditional purchasing. In fact, retail sales saw a decline in May of 17.9% from February, while online shopping nearly doubled with a 99.9% increase (see source). Although many retailers have recovered since then (see source), the pandemic may have a long lasting impact on the retail industry, as many retail stores have already closed permanently due the changes in Canadian shopping habits (see source).